UK GDP Moves Closer to Recession Levels, BOE Leaves Rates Unchanged
January 25, 2012
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Europe Update: GDP in UK Nearing Recession Levels
Q4 GDP for the UK fell by -0.2% from the third quarter levels, which had increased at a rate of +0.6%. The consensus estimate was for an increase of +0.1%.
On a year-over-year basis, GDP increased at a rate +0.8%, which was in line with consensus and above last quarter’s rate of +0.6%.
In related news, the Bank of England voted unanimously to leave interest rates as well as the current QE program unchanged.
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